Interthinx says it now offers specific FHA Requirement Solutions designed to help lenders ensure compliant Federal Housing Authority (FHA) lending programs. Interthinx's features and services – such as income verification, identity validation, occupancy status, automated regulatory compliance checks and third-party certifications – provide the necessary data validation to meet a broad number of specific requirements to support the rapidly growing share of FHA business for many lenders.
‘Although FHA lending programs are clearly presenting profitable revenue opportunities in the residential mortgage marketplace, lenders are at risk if they mistakenly loan outside of strict requirements,’ states Mike Zwerner, senior vice president of business development and marketing for Interthinx. ‘With the many rules, regulations and restrictions, Interthinx can help limit the risk of missing important facts that could make a loan uninsurable by the FHA.’
For training purposes, a multitude of Interthinx Red Flags have been mapped to specific FHA requirements to help challenged underwriters understand exactly what loan data need further scrutiny, the company adds.